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SBA 7(a)Committed, not yet disbursed

Nova Structural Steel, Inc.

CLEVELAND, OHBank of America, National AssociationStructural Steel and Precast Concrete Contractors · NAICS 238120
APPROVAL AMOUNT
$4,000,000
PROGRAM
SBA 7(a)
10 years term
APPROVED
2026-05-12
6.56% rate
JOBS SUPPORTED
42
Borrower-reported

Estimated monthly payment

MONTHLY
$45,541
AT RATE
6.56%
recorded at approval
TOTAL INTEREST
$1,464,968
over 10 yrs
TOTAL REPAID
$5,464,968

Computed from this loan's recorded initial rate and term. Most 7(a) rates are variable and reset with the base rate, so the real schedule drifts from this, and SBA guaranty fees and closing costs are not included. Adjust the assumptions.

Loan details & location

LOCATION
CLEVELAND, OH 44103
INDUSTRY
Structural Steel and Precast Concrete Contractors · NAICS 238120
BUSINESS STRUCTURE
Corporation
LOAN TERM
10 years
INITIAL INTEREST RATE
6.56%
LOAN STATUS
Committed, not yet disbursed
CONGRESSIONAL DIST.
11
CLEVELAND, OH 44103

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